XAUUSD 1798.44 - 0.27 % LONG IDEA

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Good Day Everyone

Here's my idea on GOLD looking at it from the 4H chart but overall from multiple time-frames the metal remains net long for example on the monthly GOLD is respecting the Fibonacci extension currently rallying towards Fibonacci ext level 1.618 ( 1855.12 ) which is just below the all time high of resistance level 1926.49 could we see a rise or even a break of this level its very possible as I've mentioned GOLD is one of those CFD'S that has kept on hitting HH despite negative data releases or even the ongoing pandemic.

The metal broke resistance level 1798.267 pushed down to retest the structure currently trading in a descending triangle which could be signalling continuation to the upside, looking for the ascending channel to hold by seeing a break above of the descending triangle structure for continuation to the upside. a break below will change the hole trading plan so kindly look out for updates on gold ...

Good luck and happy trading everyone




If you like the idea kindly leave a like and a follow will definitely follow back and leave your idea & Comment on the pair in the comment section. APPRECIATE IT

Comment: we broke obove on the gold and seems the the trades are triggered lets see how it goes but while you are here, check out my chfjpy idea attached... appreciate it

Trade active: Ranging in that descending triangle looking for significant moves with the bulls
Order cancelled: Bears in control But that doesn't mean the analysis is out yet still looking for a rise in gold let's see how it goes


Nice setup!
+1 Reply
PULEMokhothu Phi-Deltalytics
Thank you @Phi-Deltalytics, I appreciate it
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out